Nifty Auto: Be Vigil !
➡️ Nifty Auto: At multiyear resistance !Monthly and Weekly divergent; daily made first strong bearish candle at ATH BO
➡️ M&M and Maruti contribute ~40% to NiftyAuto index.
➡️ M&M: Big negative daily candle with Future price lower than Spot price; daily goes divergent, weekly and monthly strength remains; if not short, book profit; short near 1160-1185.
➡️ Maruti: Daily cluster broke out earlier and now 2 negative candle; short Candidate below 8300 for sure; near to 8670-8710 for R:R short.
Happy Weekend
➡️ Nifty Auto: At multiyear resistance !Monthly and Weekly divergent; daily made first strong bearish candle at ATH BO
➡️ M&M and Maruti contribute ~40% to NiftyAuto index.
➡️ M&M: Big negative daily candle with Future price lower than Spot price; daily goes divergent, weekly and monthly strength remains; if not short, book profit; short near 1160-1185.
➡️ Maruti: Daily cluster broke out earlier and now 2 negative candle; short Candidate below 8300 for sure; near to 8670-8710 for R:R short.
Happy Weekend